Company Website:
http://www.constellation.com/pages/default.aspx
BALTIMORE -- (Business Wire)
Constellation
today announced the completion of an aggregate 5.7-megawatt (DC) solar
generation project for Portland
General Electric (PGE) in Lake County, Oregon. Constellation
financed as well as owns and operates the solar power system. In return,
PGE purchases and receives all of the electricity generated by the solar
panels at a fixed rate from Constellation under a 25-year solar power
purchase agreement (PPA).
Constellation's 5.7-megawatt solar generation project for Portland General Electric in Lake County, Oregon, generates an estimated 10 million kilowatt-hours of electricity per year. (Photo: Constellation)
“Portland General Electric is working hard to diversify its portfolio of
renewable generating resources while maintaining a reliable supply of
power for its customers,” said Jim Lobdell, PGE’s vice president for
power operations and resource strategy. “The project marks a significant
addition to that effort, and will help us serve homes and businesses in
our service area for years to come.”
“Constellation congratulates Portland General Electric for its
commitment to renewable energy,” said Michael D. Smith, vice president
of solar and energy efficiency sales for Constellation. “This project is
a great example of the success of public and private partnerships in
boosting the development of renewable generation.”
The project was supported in part through a grant from the Energy Trust
of Oregon and a business energy tax credit from the Oregon Department of
Energy. Through its PPA with Constellation, PGE did not have to commit
upfront capital to build the project and retains the environmental
attributes of the project to meet the state of Oregon’s renewable
portfolio standard requirements.
The solar project was co-developed by Obsidian Finance Group and Smart
Energy Capital. Belectric, Inc., provided engineering, procurement,
construction services and construction financing before Constellation
acquired the project. Approximately 75 people were employed during
construction. Belectric, Inc., will also provide operations and
maintenance services for the project.
The solar power system comprises more than 20,000 ground-mounted
photovoltaic panels. The project is expected to generate approximately
10 million kilowatt-hours of electricity per year. Generating the same
amount of electricity using nonrenewable sources would result in the
release of an estimated 2,250 metric tons of carbon dioxide annually, or
the equivalent emissions from 379 passenger vehicles, according to U.S.
Environmental Protection Agency data.
Constellation currently owns and operates more than 126 megawatts of
solar installations that have been completed or are under construction
for commercial and government customers throughout the United States.
Constellation commercial customers, universities, school systems,
hospitals and government agencies interested in on-site
solar installations of 1 megawatt or larger may contact
Constellation at sustainable-solutions@constellation.com
or 1-877-427-2005.
About Constellation
The Constellation family of retail electricity and natural gas suppliers
(www.constellation.com),
are subsidiaries of Exelon Corp., and are leading competitive retail
suppliers of power, natural gas and energy products and services for
homes and businesses across the continental United
States. Constellation’s retail businesses serve more than 100,000
business and public sector customers, including more than two-thirds of
the Fortune 100, and nearly one million residential customers.
Exelon Corporation (NYSE:EXC) is the nation’s leading competitive energy
provider, with approximately $33 billion in annual revenues.
Headquartered in Chicago, Exelon has operations and business activities
in 47 states, the District of Columbia and Canada. Exelon is the largest
competitive U.S. power generator, with approximately 35,000 megawatts of
owned capacity comprising one of the nation’s cleanest and lowest-cost
power generation fleets. The company’s Constellation business unit
provides energy products and services to approximately 100,000 business
and public sector customers and approximately 1 million residential
customers. Exelon’s utilities deliver electricity and natural gas to
more than 6.6 million customers in central Maryland (BGE), northern
Illinois (ComEd) and southeastern Pennsylvania (PECO). Learn more at: www.exeloncorp.com.
Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20130124006052/en/
Contacts:
Constellation
Kelly Biemer, 410-470-9700
Source: Constellation